Illinois Tool Works (NYSE:ITW) Trading Down 0.3%

Illinois Tool Works Inc. (NYSE:ITWGet Free Report)’s share price was down 0.3% during trading on Tuesday . The company traded as low as $238.90 and last traded at $239.42. Approximately 216,025 shares were traded during trading, a decline of 82% from the average daily volume of 1,189,850 shares. The stock had previously closed at $240.07.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ITW shares. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus lifted their target price on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Truist Financial lifted their target price on Illinois Tool Works from $303.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Citigroup lifted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company reduced their target price on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $257.78.

Read Our Latest Stock Report on ITW

Illinois Tool Works Trading Up 1.2 %

The company has a market capitalization of $70.97 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 3.52 and a beta of 1.14. The business has a fifty day moving average price of $252.86 and a 200 day moving average price of $254.29. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07.

Illinois Tool Works (NYSE:ITWGet Free Report) last released its earnings results on Tuesday, April 30th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.35 by $0.09. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the company posted $2.33 earnings per share. Illinois Tool Works’s revenue was down 1.1% on a year-over-year basis. On average, analysts expect that Illinois Tool Works Inc. will post 10.25 earnings per share for the current fiscal year.

Illinois Tool Works Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, June 28th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 28th. This represents a $5.60 annualized dividend and a yield of 2.35%. Illinois Tool Works’s payout ratio is presently 55.23%.

Insider Buying and Selling

In other Illinois Tool Works news, CFO Michael M. Larsen sold 37,167 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $265.06, for a total transaction of $9,851,485.02. Following the transaction, the chief financial officer now owns 46,404 shares of the company’s stock, valued at $12,299,844.24. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Illinois Tool Works

A number of institutional investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC acquired a new position in Illinois Tool Works during the first quarter worth approximately $127,000. Cetera Advisors LLC increased its stake in shares of Illinois Tool Works by 57.3% during the first quarter. Cetera Advisors LLC now owns 14,475 shares of the industrial products company’s stock worth $3,884,000 after purchasing an additional 5,274 shares during the period. Cetera Investment Advisers increased its stake in shares of Illinois Tool Works by 284.1% during the first quarter. Cetera Investment Advisers now owns 56,343 shares of the industrial products company’s stock worth $15,118,000 after purchasing an additional 41,676 shares during the period. Second Line Capital LLC bought a new position in shares of Illinois Tool Works during the first quarter worth approximately $311,000. Finally, Atria Investments Inc increased its stake in shares of Illinois Tool Works by 9.4% during the first quarter. Atria Investments Inc now owns 16,857 shares of the industrial products company’s stock worth $4,523,000 after purchasing an additional 1,455 shares during the period. Institutional investors and hedge funds own 79.77% of the company’s stock.

About Illinois Tool Works

(Get Free Report)

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.

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